Individualism, collectivism, and opportunism: A cultural perspective on transaction cost economics
[Electronic version], Journal of Management, 28(4), 567-583.
On transaction cost economics
and the nature of the firm.
LSCM is truly a multidisciplinary research area, and this multidisciplinarity begins with the five most prominent theories playing a role in LSCM theoretical development since 1991: the resource-based view, transaction cost economics
, game theojy, contingency theory, and institutional theory.
The most notable approach is Oliver Williamson's Transaction Cost Economics
Amongst the prominent theories are transaction cost economics
theory, theory of core competencies, knowledge based-view theory, resource based-view theory and etc.
Applying Transaction Cost Economics
: A Note on Biomass Supply Chains, 25
After concluding the literature review concerning fruit quality management, quality, and transaction cost economics
, it then becomes possible to formulate the general hypotheses of this investigation.
In this paper, we answer these questions by applying the conceptual lens of transaction cost economics
(TCE) theory to the domain of family business.
Although transaction cost economics
and agency theory have constituted solid and unshakeable beliefs upon which the basic principles that guide business management have been built and developed over the last decades, other approaches such as the one supplied by the POS or the stewardship theory show that some important questions are being left out.
This does not suggest that transaction cost economics
(TCE) lacks explanatory power.
Transaction cost economics
: how it works; where it is headed, De Economist 146: 23-58.
Later analyses of the firm, such as in Transaction Cost Economics
(Williamson, 1967; 1973; 1979), build on Coase's insight but do not generally question his fundamental (but problematic) conjecture of the firm as a hierarchical and authority-based substitute to the market.